A recent property market report found that 335,409 transactions involving residential property last year involved the resale of units.
Launched on June 1 last year, the scheme allows first-time buyers purchasing brand new homes from developers a full exemption on stamp duty payable for houses below RM500,000. New buyers of units costing between RM500,000 and RM1 million are entitled to a 75% waiver.National House Buyers Association secretary-general Chang Kim Loong questioned why the scheme was limited to units in the primary market, despite the bulk of property transactions in the segment taking place in the secondary market.
“Why are the benefits not extended to all groups of buyers and investors in the secondary market,” Chang asked. On Sunday, local government development minister Nga Kor Ming said the government had the home ownership target for Malaysians at 100%.